Technical analysis of EUR/USD for March 07, 2014 Trend News

When the European market opens, some economic news will be released such as German WPI m/m, French Gov Budget Balance, French Trade Balance, German Industrial Production m/m. The US will release the economic data too such as the US-Non-Farm Employment Change, US-Trade Balance, US-Unemployment Rate, US-Average Hourly Earnings m/m, US-Consumer Credit m/m, so amid the reports, EUR/USD will move with medium to high volatility during this day.

TODAY's TECHNICAL LEVELS:

Breakout BUY Level: 1.3929.

Strong Resistance:1.3902.

Original Resistance: 1.3907.

Inner Sell Area: 1.3894.

Target Inner Area: 1.3861.

Inner Buy Area: 1.3828.

Original Support: 1.3815.

Strong Support: 1.3802.

Breakout SELL Level: 1.3793.

DESCRIPTION:

Today EUR/USD has support and resistance at 1.3815 and 1.3907. The rate is accompanied by strong support at 1.3802 and by 1.3902 as strong resistance.

If EUR/USD breaks out and closes below the 1.3793 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3929 level, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.3828 and at 1.3894, a SELL position. In this case both targets should be placed at the level of 1.3861.

Best regards,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group

http://instaforex.com

For discussion and more analysis go to: blog.mt5.com/arief

Disclaimer:

Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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Technical analysis of USD/JPY for March 07, 2014 Trend News

In Asia, Japan will release the Leading Indicators and the US will release some economic data such as US-Non-Farm Employment Change, US-Trade Balance, US-Unemployment Rate, US-Average Hourly Earnings m/m, US-Consumer Credit m/m. So there is a big probability the USD/JPY will move with low volatility during the Asian session, but with medium to high volatility during the US session.

TODAY's TECHNICAL LEVELS:

Resistance. 3: 103.51.

Resistance. 2: 103.31.

Resistance. 1: 103.11.

Support. 1: 102.86.

Support. 2: 102.65.

Support. 3: 102.45.

DESCRIPTION:

Please, pay attention to the levels of support 3 (102.45) and resistance 3 (103.51). Normally, when a level is touched, USD/JPY will rebound from the previous minimum by 10 to 20 pips, but if the levels are broken through by over 50 pips, then it will be a sign that these currencies have found trends today.

Best regards,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group

http://instaforex.com

For discussion and more analysis go to: blog.mt5.com/arief

Disclaimer:

Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

The material has been provided by InstaForex Company - www.instaforex.com



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Analysis of USDX for March 07, 2014 Trend News

The ADP report out of the US delivered a drastic blow to bullish expectations for a positive NFP report in February. December and January showed the US labor market which is not nearly as strong as many have anticipated. Economists expect that 150,000 jobs were added last month, up from only 113,000 jobs added in January. The US economy appears to be much weaker than expected and yesterday's ADP report suggests that today's NFP report will print the third consecutive disappointment. If the same thing happens, the US Federal Reserve may have to adjust its tapering due to economic weakness in the US. It would send conflicting signals to forex traders, and USD is likely to violent swing with more downward, sell off sharply with heavy volume.

Technical view-

The US dollar is trading below the moving average's and hammered towards the October 2013 low at $79. The US dollar made a double top at the end of January 2014, and kept on correcting itself. It was unable to move above the 50SMA. In the H4 and hourly charts, RSI is under an oversold condition, expecting a pullback with the previous support at 79.0. A break below the 79.0 mark will push it up to 78.6, 77.0, and 75.75.

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Analysis of gold for March 07, 2014 Trend News

The first time claims for the US unemployment benefits fell last week to a three month low, but remained little unchanged from a year ago. It fell more than expected and hit a three month low. It's a good sign of labor market. Initial jobless claims totalled 323,000 in the week ending March 1, a decline of 26,000 from the prior week's revised reading of 349,000. Traders keep an eye on today's highly anticipated non-farm payroll data. The European central bank kept its interest rate on hold.

Technical view-

Gold is in overbought conditions and negative divergence in the daily chart. At the upper end of a rising channel it could be due for a correction. The 20dma is at $1,315 and rising; it could move up to $1,320 as the first support level and 38.2% retracement at $1,310 as the second potential support and a target. Holding one of these levels the correction should complete. A move below the level of $1,328.0 opens major downside targets. If price breaks out on the upper side above $1,355.0, we will see $1,362.0 and $1,372.0 in intraday only.

Positional- sell on rallies. $1,355.0 neckline resistance

S1 $1,328.0 R1 $1,355.0

S2 $1,318.0 R2 $1,362.0

S3 $1,310.0 R3 $1,395.0.

A day close above the level of $1,355.0, we will see $1,362.0, $1,375.0, $1,395.0, $1,420.0, and $1,440.0. Before further up move, the price will come down first towards $1328.0, $1,310.0.

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Technical analysis of crude for March 07, 2014 Trend News

Crude oil momentum indicators whipsawed back to the sell side and now with negative divergence. Based on this holding of $105.22, crude should start going down to $86.2 within intermediate supports at 98.5, $95, and $90. In the yesterday's trading session, crude held the support of 40EMA and flew back to a high, trading above the 50.0 fib level. A break below the level of $100.0, crude will go back to crucial support zone of $98.5.

S1 100.0 R1 103.5

S2 98.5 R2 105.2

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Analysis of EUR/USD for March 07, 2014 Trend News

The European Central Bank kept its interest rate on hold. After the decision to keep rates at a record low of 0.25%, Draghi said the bank raised its projection for economic growth to 1.2% in this year from 1.1% and left next year's unchanged at 1.5%. It introduced a forecast for 2016 at 1.8%. The euro moved above $1.38. Expectations that the central bank will not cut rates tend to boost the euro. This year's CPI forecast was trimmed lower to 1% from 1.1% and left next year's forecast unchanged at 1.3%.

Technical view-

EUR/USD moved to higher levels at $1.3873. After the pair made a double top on the H4 chart dated February 28, 2014, it gone through a correction up to 1.3708 consolidated for 3 days. In yesterday's trading session the pair gave a nice breakout and moved above the resistance zone of 1.3824. In our previous report (Feb 04,2014) we gave a buy call above 1.3773 for 1.39. It’s almost finished. In the hourly and H4 charts, oscillators are giving a sell indication, RSI stood in overbought zone.

Trend decider level is 1.3824, until it holds, we will see some up move towards 1.39 and 1.3920. Fresh breakout is only above 1.3964. A day close below 1.3643 is not good for longs.

Intraday

S1 1.3824 R1 1.3873

S2 1.3808 R2 1.39

Positional

S1 1.38 R1 1.3893

S2 1.3708 R2 1.3964

S3 1.3643 R3 1.4171

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Technical analysis of EUR/JPY for March 07, 2014 Trend News

Technical outlook and chart setups:

1. The EUR/JPY pair has rallied and remains just shy of 143.00 levels. Please note that 143.00 is also the 0.618 fibonacci retracement level of the recent down swing from 145.50 to 136.00. It is recommended to remain short, risk remains at 143.00/50.

2. Immediate resistance is the 143.00/50 region, followed by 145.50, while supports are now spread through 136.00/139.00 (intermediary), followed by 134.00, 131.00 and lower respectively.

3. The structure reveals that a bearish signal confirmation at current level would bring back bears in control. Prices should be dragged down towards 132.00 and 130.00. On the other hand, a push through 143.50 should test 145.50 again.

Trading recommendations:

Remain short for now, set stop at 143.50, target is at 132.00 and 130.00.

Good luck!

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Technical analysis of GBP/CHF for March 07, 2014 Trend News

Technical outlook and chart setups:

1. The GBP/CHF pair is again testing 1.4700 levels. It is recommended to remain long for now, risk remains at 1.4600 levels. A successful test of lows here would confirm that the next leg is higher up.

2. Immediate resistance is at 1.4950/60 (intermediary), followed by 1.5120/30, while supports are spread through 1.47/1.46 region, followed by 1.4550, 1.4350 and lower respectively.

3. The structure indicates that till prices are above 1.46/1.47 region, bulls shall regain control back and drag prices higher towards 1.5120/30.

Trading recommendations:

Remain long for now, stop is at 1.4600, target is open.

Good luck!

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Technical analysis of Silver for March 07, 2014. Trend News

Technical outlook and chart setups:

1. Silver also attempts a rally towards $22.00 levels; this can still be considered as a pullback/retracement of the earlier fall from $22.20/30 highs. It is recommended to continue holding short positions, risk remains at $22.50.

2. Immediate resistance is seen at $23.00 levels, while supports are spread through $20.50, followed by $20.00, $19.00 and lower respectively.

3. The structure indicates that Silver would remain under pressure till prices are below the $22.20 mark. Minimum levels of interest to initiate long positions are $20.50 and $20.00.

Trading recommendations:

Remain short for now, stop is at $22.50, target is open.

Good luck!

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Technical analysis of Gold for March 07, 2014. Trend News

Technical outlook and chart setups:

1. Gold rallies to test recent swing highs at $1,354.00/55.00. A break here would push further and challenge $1,361.00. For now it is recommended to continue holding short positions, risk remains at $1,359.50.

2. Immediate resistance is at $1,361.00, followed by $1,375.00 and higher up, while supports are spread through $1,320.00, followed by $1,307.00, $1,280.00/70.00, $1,230.00/20.00 and lower respectively.

3. The structure reveals that the metal is testing the highs after producing an engulfing bearish candle earlier. A break past $1,361.00 should push prices through $1,375.00; while a failure would bring back bears into control.

Trading recommendations:

Remain short, stop is at $1,359.50, target is open.

Good luck!

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Daily analysis of USDX for March 07, 2014 Trend News

Daily chart: The USDX has had a strong fall below the resistance level of 80.11, so it is very likely that the USDX to fall to the support level of 79.19 soon. If the USDX manages to consolidate below the 79.55 level, this fall might happen. On the other hand, if the USDX makes a bullish rebound at the current levels, it is expected to rise to the resistance level of 80.11. The MACD indicator is in negative territory.

H4 chart: The USDX is forming a bearish pattern below the resistance level of 79.59. If the USDX manages to consolidate below this level, it would be expected to fall to the level of 78.90, where a bearish trend line is. On the other hand, it would be expected to rise to the level of 79.81 if USDX executes a breakout at the level of 79.69. The MACD indicator is still in negative territory.

H1 chart: The USDX has found resistance at the 200-day moving average and now the USDX is forming a higher low pattern below the resistance level of 79.88. If the USDX does make a breakout at the support level of 79.64, it's expected to fall to the level of 79.39. On the other hand, if the USDX managed to break the resistance level of 79.88, it's expected to rise to the level of 80.15. The MACD indicator is oversold.

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 79.64, take profit is at 79.39, and stop loss is at 79.89.

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Daily analysis of GBP/USD for March 07, 2013 Trend News

Daily chart: This pair found resistance at the level of 1.6766, but the GBP/USD remains strong in the bullish bias. If the pair manages to consolidate above this level, it would be expected to rise to the resistance level of 1.6851. On the other hand, it is very likely that the GBP/USD makes a corrective move and fall to the support level of 1.6663, so we must be very cautious. The MACD indicator is in neutral territory.

H4 chart: GBP/USD formed a fractal near to the bullish trend line at the 1.6780 level. Now this pair is making a bearish movement, so it is likely to fall to the support level of 1.6695. On the other hand, if the pair manages to make a breakout at the 1.6822 level, it's expected to rise to the resistance level of 1.6950 in the medium term. The MACD indicator is in positive territory.

H1 chart: The GBP/USD had a bullish momentum thanks to a bullish movement from the point of control at the level of 1.6715. However, this pair found strong resistance at the level of 1.6750. If the pair manages to make a breakout at that level, it would be expected to rise to the resistance level of 1.6800. The MACD indicator is entering negative territory.

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.6750, take profit is at 1.6800, and stop loss is at 1.6700.

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Technical analysis of USD/CAD for March 7, 2014 Trend News

Overview :

• The USD/CAD pair rebounded at the level of 1.0910, and it showed signs of strength following the level of 1.1060. As expected, the resistance was broken and turned to support at the same key level (1.0910). Another thought, the price set above the support seven days ago. Consequently, the pair has already formed a strong support at 1.0910. Furthermore, the price has still been moving between 1.1066 and 1.0950. Therefore, the USD/CAD pair started showing the signs of bullish market, so the market indicates the bullish opportunity at the level of 1.0910 with the first target of 1.1043, and continues towards the level of 1.1103 again. Notwithstanding, the stop loss should always be in account, Consequently, it will of the foresight to set your stop loss at the 1.0885 price.

Intraday technical levels :

• R3: 1.1124


• R2: 1.1085


• R1: 1.1034


• PP: 1.0995


• S1: 1.0944


• S2: 1.0905


• S3: 1.0854

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Technical analysis of GBP/USD for March 7, 2014 Trend News

Trading recommendations :

• According to the preceding events, the GBP/USD pair is going to move between 1.6795 and 1.6730.


• Sell at the level of 1.6810 with the first target at the 1.6768 price in order to test the minor support, then it will call for downwards pressure in order to continue its bearish movement towards 1.6700 in order to test this strong support (the price of 1.6697 is going to represent the weekly pivot point of the GBP/USD pair on March 7, 2014). At the same time, the stop loss should be placed at the level of 1.6825. On the contrary, if the trend fails to close below the level of 1.6690. Therefore, it will very advantageous, but above the 1.6690 price with target at 1.6730, then at the price of 1.6805.

Notes :

• We expect a range of 93 pips. But the risk of 93 pips must make a profit of 139.50.


• Volatility: 155.59. As a rule, the market is highly volatile if the last day had a huge volatility.

Intraday technical levels :

• R3: 1.6894


• R2: 1.6836


• R1: 1.6801


• PP: 1.6743


• S1: 1.6708


• S2: 1.6650


• S3: 1.6615

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Intraday technical levels and trading recommendations for GBP/USD for March 6, 2014 Trend News

The pair remains in the bearish impulse initiated off its peak price around 1.6820 as long as this highest price doesn't get broken through.

The breakdown of 1.6600 is essential to confirm reversal and trigger a stronger pullback, which will pause the short-term bullish momentum and open the way towards 1.6536 (50% Fibonacci Level of the swing between 1.6250/1.6821) and psychological Demand of 1.6500 as well.

The price level of 1.6600 seems to be a considerable support for the pair so far.

The bears failed to fixate below it on the last bearish attempt that took place two weeks ago. Instead, bullish pressure was applied to push again towards 1.6750 and 1.6800.

The bulls concentrated on price level of 1.6600 considering it as an ideal reversal point.

Stabilization of 1.6600 protected the pair from further decline. This led to a sideway consolidative phase before the ongoing bullish breakout took place last week.

As expected, breakthrough above 1.6666 opened the way towards 1.6740 corresponding to 61.8% Fibonacci of the recent bearish swing depicted on the 4H chart.

Breakthrough above 1.6740 (61.8% Fibonacci) is a must to bring bulls back to push towards 1.6820 again.

On the other hand, stabilization below which traps the pair between it and the backside of the broken channel around 1.6650 (Recent Demand Level) which may lead to a sideway consolidative phase until new fundamental data gets into the market.

A double-top may be established around 1.6750-1.6770 which needs breakdown of the neck-line around 1.6575. Projection target is located roughly at 1.6400.

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Technical analysis of USD/JPY for March 04, 2014 Trend News

Overview:

USD/JPY is expected to consolidate after hitting one-week high at 102.55 on Wednesday. USD/JPY is undermined by the weaker dollar sentiment (ICE spot dollar index last 80.09 versus 80.15 early Wednesday) after worse-than-expected drop in U.S. ISM non-manufacturing PMI to 51.6 in February, the lowest since February 2010 --from 54.0 in January (versus 53.5 forecast), smaller-than-expected 139,000 increase in ADP February U.S. private-sector jobs (versus +160,000 forecast). USD/JPY is also weighed by the lower U.S. Treasury yields, Japan exporter sales, subdued investor risk appetite (S&P slipped 0.01%, DJIA fell 0.22% overnight) on weak U.S. data, prospect of China's first onshore corporate bond default as concerns mount that Shanghai Chaori Solar would be unable to pay investors interest due on Friday, comment from Chinese government official Wednesday said economic growth below the government's 7.5% target will be tolerated; Federal Reserve Beige Book indicating economic activity improved in most parts of the country, but the severe wintry weather dragged on growth. But USD/JPY downside is limited by the demand from the Japan importers and loose Bank of Japan's monetary policy.

Technical сomment:
Daily chart is positive-biased as MACD and stochastics are turned to bullish.

Trading recommendation:

The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As far as the price is above its pivot point, a long position is recommended with the first target at 103.35 and the second target at 103.70. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 102.30. A breach of this target will push the pair further downwards and one may expect the second target at 102.05. The pivot point is at 102.50.

Resistance levels:

103.35

103.70

104

Support levels:

102.30

102.05

107.65

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Intraday technical levels and trading recommendations for EUR/USD for March 6, 2014 Trend News

Successive ascending bottoms were established on the daily chart. This means the uptrend line established on September 2013 is still intact.

The ongoing bullish impulse is probably targeting at 1.3900 corresponding to 100% Fibonacci Expansion as long as the depicted uptrend line remains defended by the bulls.

Through the fundamental point of view, The ECB president Mario Draghi stated that Fundamental data indicates a continuous improvement in the economy. This contributed to the recent bullish jump that took place today.

As long as the bulls are defending the established bottom at 1.3630 and the recent one at 1.3720, the EUR/USD pair remains bullish on the intermediate prospective.

As expected technically, the price zone of 1.3630-1.3720 which is trapped between 50% and 61.8% Fibonacci levels, acted as an important Demand zone that provided a valid BUY entry.

Stop Loss for the bullish scenario is located below 1.3700. Initial target is located at 1.3900 knowing that the bulls have successfully hit 1.3840 so far.

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Technical analysis of USD/CHF for March 06, 2014 Trend News

Overview:

USD/CHF is expected to consolidate in a lower range after hitting a four-day high at 0.8895 on Wednesday. It is undermined by the weaker dollar sentiment and franc demand on retreating EUR/CHF cross. Daily chart is mixed as MACD is bearish, but stochastics is rising from oversold zone.

Trading recommendation:

The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 0.8790. A breach of this target will move the pair further downwards to 0.8760. The pivot point stands at 0.840. In case the price moves in the opposite direction, bounces back from support level, and then moves above its pivot point, it is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 0.8895 and the second target at 0.8920.

Resistance levels:

0.8895

0.8920

0.8945

Support levels:

0.8790

0.8760

0.8740

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Technical analysis of EUR/JPY for March 6, 2014 Trend News

General overview for 06/03/2014 15:50 CET

Wave (c) blue has been finished sooner than expected and the overall wave (2) blue has been finished as well. Unfortunately our target level has not been hit this time.

On bigger time frame count we can see the low for wave 4 purple being in place and now some first indications of impulsive wave 5 purple to the upside is developing. The key area here is supply zone between the levels of 142.93 - 143.15. If this zone is broken, then the swing high at the level of 145. 68 will be tested. On the other hand, the alternate count still indicates a possible more complex wave 4 purple possibility. For this count the recent high is the top for an ABC black ZigZag and a top for wave alt. B blue. So now it all depends how the price will behave when it hit the key level.

Support/Resistance:

143.27 - WR3

142.93 - 143.15 - Supply zone

142.18 - WR2

140.95 - WR1

Trading recommendations:

Sell positions should be opened from the level of 142.92 with SL below the level of 143.30 and TP at the level of 141.00.

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Technical analysis of GBP/JPY for March 06, 2014 Trend News

Overview:

GBP/JPY is expected to consolidate after hitting a three-day high 140.78 on Wednesday. GBP/JPY is undermined by the subdued investor risk appetite and Japan exporter sales. But GBP/JPY losses are tempered by the demand from Japan importers and loose BOJ's monetary policy. Daily chart is turnting positive as MACD is in bullish mode and stochastics is turning bullish.

Trading recommendation:

The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As far as the price is above its pivot point, a long position is recommended with the first target at 172.76 and the second target at 173.60. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 170.50. A breach of this target will push the pair further downwards and one may expect the second target at 169.75. The pivot point is at 170.90.

Resistance levels:

172.76

173.60

174.15

Support levels:

170.50

169.75

168

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Technical analysis of USD/CAD for March 6, 2014 Trend News

General overview for 06/03/2014 14:00 CET

The anticipated level of 61%Fibo at 1.1016 has been hit and the overall correction in wave B green turned out to be in the shape an abcde triangle. This kind of wave developing would suggest a possible upside breakout from a triangle. This is in line with my count that is missing one more wave to the upside. The first resistance is red trend line and next one intraday resistance is at the level of 1.1045. Any break out higher means the weekly pivot level will be tested with a possible upside extension to the golden descending trend line.

Support/Resistance:

1.0967 - WS2

1.1011 - Intraday support

1.1016 - 61%Fibo

1.1045 - Intraday resistance

1.1087 - Weekly pivot

1.1135 - WR1

Trading recommendations:

Long positions should be opened from the level of 1.1045 with SL below the level of 1.1011 and TP at the level of 1.1087.

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Elliott Wave Analysis of AUD/USD for March 06, 2014 Trend News

AUD/USD Elliott Wave
The AUD/USD pair, has been trading aggressively higher for the last few days, wave (a) (coloured green) of the bigger wave [a] (coloured black) has been developing. In the 1-hour chart of the pair above, we can see that there is enough swings to call the (a) wave, that is developing from the 0.8889 level as already complete cycle, so we are going to look for a corrective pullback towards the 50% of the (a) wave length as our fresh buying signal in the pair. In accordance with our wave rules and taking into account that wave (c) should extend 100% of wave (a), we can define the potential targets with measuring wave (a) with take profit at 0.8975 (100% of wave (a)).To reduce the risk, we can use support point at the 0.8880 level as stop loss. alternate count: we are still inside the (a) wave, and if price make a new high we are going to look for the 0.9050 region as our resistance area. Our strategy stay the same even for this scenario, buying the (b) wave pullback at the 50% drop with a stop at 0.8880 level/



Support and Resistance

(S3) 0.8886, (S2) 0.8911, (S1) 0.8947, (PP) 0.8972, (R1) 0.9008, (R2) 0.9033, (R3) 0.9069.



Trading forecast
Proceeding from Elliot Wave rules today, the trend is expected to begin the upwards movements. That is why long positions at the level of 0.8975 with stop loss at 0.8880 and take profit at 0.8975 are recommended.

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GOLD analysis for March 06, 2014 Trend News

Overview:

Since our last analysis, gold has been trading downwards, the price tested the level of 1,330.80 on average volume. Our previous analysis is still active and buying at this stage looks risky. The Gold is around our critical resistance area, the price of 1,338.00. We got FR 61.8% at the price of 1,338.00 and if that level can hold, we may see potential bearish movements. According to daily chart, we can observe weak demand bar, which is a sign that buying at this stage looks risky. According to H4 chart, we can observe supply in the background and weak demand. My advice is to watch for potential bearish movements after retracement. I've placed Fibonacci levels to find potential down stations and I got submajor Fibonacci retracement 38.2% at the price of1,309.00 and Fibonacci retracement 61.8% at the price of 1,282.00.

Daily pivot Fibonacci points:

Resistance levels:

R1: 1,340.51

R2: 1,342.65

R3: 1,346.13

Support levels:

S1: 1,333.55

S2: 1,331.41

S3: 1,327.93

Trading recommendation: Trading the metal, be careful with buying since Gold is around critical area and we are also near the high new ground.

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Technical analysis of USD/CHF for March 6, 2014 Trend News

Forecast in the long term :

• According to previous events, the USD/CHF pair has still been trapped between 0.8900 and 0.8873.


• Strong resistance will be formed at the level of 0.8900 providing a clear signal for sell deals with the targets seen at 0.8875 nad 0.8834.


• Stop-loss is to be placed above 0.8935.


• Strong support will be formed at the level of 0.8830 providing a clear signal for buy deals with the target seen at the 0.8895 level.


• Stop-loss is to be placed below 0.8810.

Warnings :

• Stop loss should never exceed your maximum exposure amounts.


• As a rule, the market is highly volatile if the previous day had huge volatility,

Intraday technical levels :

Date and Time: 6/03/2014 11:23

Pair: USD/CHF

• R3: 0.8907


• R2: 0.8896


• R1: 0.8882


• PP: 0.8871


• S1: 0.8857


• S2: 0.8846


• S3: 0.8832

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Technical analysis of EUR/USD for March 6, 2014 Trend News

• Daily pivot point: 1.3730.

Overview :

• The daily pivot point of the EUR/USD pair will set at the level of 1.3730. Also, the weekly pivot point set at the 1.3756 price for March 3-7, 2014. Consequently, the market has still been calling for downward because the price has set below the weekly pivot point at 1.3756 since yesterday. Accordingly, if the trend fails to close above the level of 1.3760, then it will be a good opportunity to sell below 1.3756 with the first target at 1.3688 (this level is going to represent the weekly support 1), then it will be continued in downtrend towards 1.3643 in order to test the double bottom on March 6, 2014. On the other hand, the stop loss should always be taken in account because it should never exceed your maximum exposure amounts. Consequently, the best location to set your stop loss should be placed above the level of 1.3794 (the daily resistance 3).

Intraday technical levels :

Date and Time: 6/03/2014 10:35

Pair: EUR/USD

• R3: 1.3794


• R2: 1.3771


• R1: 1.3753


• PP: 1.3730


• S1: 1.3712


• S2: 1.3689


• S3: 1.3671

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#USDX analysis for March 6, 2014 Trend News

The Dollar index has EURUSD as its major component. So we expect to see an increase in volatility today after the ECB meeting. The Dollar index is fighting to break above short-term resistance at 80.40-60. It is a positive sign that prices have moved back above 80 as this is not only technical support but also an important psychological level for Dollar bulls.

The index is fighting to break above the Ichimoku cloud resistance and also bulls to regain the upper hand must break above the red downward sloping trend line resistance at 80.50-60. Short-term support is found at 80-79.95-79.70. Short-term resistance is found at 80.40-60.

On a weekly level we are at a very crucial pivot point that will determine longer-term trend. A break below 79 will open the way for a move towards 72-73. If support is held we can expect a trend reversal being confirmed if prices break above 81.30-40. For now we remain neutral expecting to see how the market reacts to ECB.

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Gold analysis for March 6, 2014 Trend News

Gold price remains above short-term support at $1,320-30 but moves sideways as shown in the chart below. A break above $1,342 will give the bullish trend strength to retest the highs at $1,355 or even make new highs near $1,360.

The longer-term trend remains up and Gold price is supported by the trend line and the Ichimoku cloud. Short-term resistance is found at $1,342 and at $1,355. We need to break recent high at $1,342 in order to re-test highs.

Long-term trend remains up but we have reached important resistance levels. Breaking above $1,360 will confirm the longer-term trend and give us a new target near $1,450-$1,500. Bulls need to be very cautious today as volatility in EURUSD after the ECB rate decision is expected to influence Gold price as well.

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